Document No. 881052

The second major security based on bitcoin is preparing to trade on the Chicago Mercantile Exchange.
The CME Group, one of the nation's primary exchanges of options and futures contracts ,created bitcoin futures contracts for trading at 6 p.m. EST Sunday. The initial price for bitcoin futuress was $20,650, and the virtual currency was trading at $20,135 at 6:08 p.m. EST.
The digital currency has increased in popularity and value this year even while drawing doubts regarding its unpredictability.
The CME bitcoin derivatives, like the bitcoin futures that now trade on the Chicago Board Options Exchange, do not contain real bitcoin. They will follow an index of bitcoin price. Each contract will be for 5 bitcoin.

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Bitcoin futures based on the Gemini auction prices are traded exclusively at Cboe Futures Exchange.
Here's everything you need to know about how these futures will work, and which brokers will actually let you trade bitcoin futures in your brokerage account. The CBOE and CME launches were made possible following approval by the US Commodities and Futures Trading Commission (CFTC). The letter suggests that the Bitcoin price didn't collapse overnight after the futures launch by CBOE and CME due to relatively low trading volume of Bitcoin in the futures market.